Cott Corp. Makes Announcement.TORONTO--(BUSINESS WIRE)--Jan. 19, 1996--Cott Corp. (NNM NNM Network Node Manager NNM NASDAQ National Market (financial) NNM National Nutrition Month (March; American Dietetic Association) NNM Naryan-Mar (Russia) NNM Net New Money :COTTF, TSE/ME:BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band ) announced today that a decision has been received on its preliminary motion to dismiss the previously announced U.S. securities law claim filed in 1994. Although the court concluded that most of the statements relied upon by the plaintiffs in support of their claim were deficient, it determined that a limited number of statements could not be dismissed at this preliminary stage of the proceeding. The company noted, in this regard, that under applicable U.S. law, the judge hearing the motion was required to assume the truth of each properly pleaded allegation in the complaint, and no determination on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers of the complaint has been made by, or should be inferred from, the decision. A similar preliminary motion to dismiss the complaint on behalf of the individual defendants was granted in part and denied in part. Cott reiterated its previously expressed view that it believes the complaint is frivolous Of minimal importance; legally worthless. A frivolous suit is one without any legal merit. In some cases, such an action might be brought in bad faith for the purpose of harrassing the defendant. and utterly without merit, and that it has strong and meritorious mer·i·to·ri·ous adj. Deserving reward or praise; having merit. [Middle English, from Latin merit defences to the complaint which it intends to vigorously pursue. CONTACT: Cott Corp. William M. Smith, 416/203-5662 or 800/793-5622 |
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